Soreide Law Group Files FINRA Arbitration on Behalf of Clients Against Morgan Stanley Over PVCT Stock Loss

Soreide Law Group, based in Pompano Beach, Florida, recently filed on behalf of our clients (Claimants) a FINRA arbitration against:
MORGAN STANLEY (Respondent) 
The Claimants are both retired and living in Boca Raton, Florida.  The Claimants entrusted their savings to the Respondent, and their former financial advisor, Scott J. Donato, to provide them with safe and secure retirement income. The law suit alleges that Morgan Stanley and Donato actively traded the Claimants’ investments in stocks and options generating substantial commissions. Allegedly, as a result of Donato’s active trading strategy, the Claimants missed out on substantial market returns over the past six years. The Claimants allege Donato refused to sell their stock in PVCT when it traded up to the $5.50-$6.00 range. The law suit alleges Donato ignored the Claimants’ orders to sell even as the stock declined to $2 per share. A potential profit was turned into a significant loss.
Provectus Biopharmaceuticals, Inc. (PVCT) today is trading at .0329.  It’s 52 week range is: 0.0110 - 0.0680. Provectus Biopharmaceuticals, Inc., a biopharmaceutical company, engages in developing pharmaceuticals for oncology and dermatology. Additionally, it develops medical device technologies for markets comprising cosmetic treatments, such as reduction of wrinkles and elimination of spider veins, and other cosmetic blemishes; and therapeutic uses. The company was formerly known as Provectus Pharmaceuticals, Inc. and changed its name to Provectus Biopharmaceuticals, Inc. in December 2013. Provectus Biopharmaceuticals, Inc. was founded in 2002 and is based in Knoxville, Tennessee.
The lawsuit alleges that the Claimants were extremely frustrated by Morgan Stanley’s financial advisor, Scott J. Donato’s, handling of their PVCT stock. Allegedly, the Claimants were growing more and more disappointed with Donato’s active trading approach to retirement investing. The Claimants were hesitant to file an arbitration complaint, however, on Donato’s CRD report from FINRA’s BrokerCheck, available to the public, Donato has 8 disclosures regarding complaints from other investors.
As a result of the Respondent’s alleged failure to execute the Claimants’ trades, omissions and misrepresentations regarding the risk of the Respondent’s recommendations, and unsuitable hold recommendations, the Claimants have now suffered alleged damages of approximately $2,000,000.
The lawsuit alleges:  negligence, breach of fiduciary duty, and negligent supervision.
If you were a client of Morgan Stanley and/or their former financial advisor, Scott J. Donato in Miami, Floirda, and you experienced investment losses, call the Pompano Beach, Florida-based Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents clients nationwide before FINRA and we operate on a contingency fee basis.